COVID-19 Sent March Retail Imports to Lowest Level in 5 Years, Says NRF
The National Retail Federation estimates imports at major U.S. retail container ports fell to their lowest level in five years due to the COVID-19 pandemic, said the association Tuesday. Imports are projected to remain “significantly below normal levels” through early…
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summer as the pandemic continues, it said. “Even as factories in China have begun to get back to work, we are seeing far fewer imports coming into the United States than previously expected,” said NRF. “Many stores are closed, and consumer demand has been impacted with millions of Americans out of work.” Store closures may make cargo “sit longer than usual and cause other supply chain impacts,” it said.